Tag Archives: oil

Mexico City, Mexico | AFP |  Royal Dutch Shell said Wednesday it would invest $1 billion in Mexico over the next decade, after the oil giant opened its first retail gas station in the country. The investment in the world’s fifth-biggest consumer of gasoline depends on market conditions continuing to …

Caracas, Venezuela | AFP | After decades of being Venezuela’s cash cow, the state oil company PDVSA is a ragged shadow of its former self: overburdened, underfed, and in hock to Russian and Chinese creditors. The woes of the group, whose full name is Petroleos de Venezuela S.A., look set to …

Paris, France | AFP | French oil giant Total said Monday it has agreed to sell its remaining stake in a Norwegian oil field to Kuwait so that it can focus on its recent acquisition of Denmark’s Maersk Oil. “Total has signed an agreement to divest its remaining 15-percent interest in …

IN THE INDEPENDENT: Why Museveni fired Isabalija TOP stories in this week’s THE INDEPEDENT LAW From Kavuma to Owiny-Dollo: What next as Museveni’s cadre judges win? THE LAST WORD Museveni’s dilemma, Africa’s crisis : How the obsession with our internal weaknesses has obscured the international dimension of Africa’s problems. COVER …

Malabo, Equatorial Guinea | AFP |  Equatorial Guinea said Monday it has demanded 73 million euros from French oil giant Total over “fraud” in fuel sales made between 2010 and 2012. “Following an investigation, we found a suspicious and fraudulent situation,” said Finance Minister Miguel Egonga Obiang as he announced …

Luke Patey | AFRICAN ARGUMENTS |  It was not long ago that East Africa was the shining frontier of the continent’s oil scene. Uganda sparked the rush in 2006 after wildcatters ventured deep inland and made Africa’s largest onshore discoveries in decades. And Kenya’s north­western Turkana region continued the run with new oilfields found …

Equatorial Guinea gives President Museveni highest honour Malabo, Equatorial Guinea | PPU | SATURDAY | The people of Equatorial Guinea have presented the highest honour of their country, the Great Collar of Independence Award, to Uganda President Yoweri Museveni who is on a 4-day state visit to the Central African nation …

Kampala, Uganda | JULIUS BUSINGE | Stanbic Bank Uganda in collaboration with the Industrial and Commercial Bank of China Limited (ICBC) have hinted that Uganda’s economy is set to reap big from oil and gas activities. Speaking at an economic forum organised by the two banks for the Chinese business …

  Luanda, Angola | AFRICAN ARGUMENTS |  After 38 years in power, Angola’s José Eduardo dos Santos finally looks set to step down from office. The president has stated his intention to relinquish power before, but as the 23 August elections approach, everything is pointing in the direction of his imminent departure following the polls. …

Museveni’s refinery deal: Now gov’t says in negotiations with GE-led consortium as Chinese protest Kampala, Uganda | HAGGAI MATSIKO | A fight between Chinese and American investors over the US $ 4 billion refinery deal could further delay the project, observers fear. These fears have been sparked by reports that …